Proactive Investors - Run By Investors For Investors

Animoca Brands secures investment from renowned Asian financial powerhouse

$1 million investment by Sun Hung Kai and $0.5 million by strategic partner Lympo.
Share placement at a 10% premium

Animoca Brands Corporation Ltd (ASX:AB1) has secured $1.5 million in investments from Sun Hung Kai & Co. Limited and blockchain fitness company Lympo, which is a current strategic partner.

The placement was conducted at 7 cents per share, which represents a 10% premium on the 30-day volume-weighted average share price.

Animoca will utilise the capital raised to research and develop novel products based on blockchain and artificial intelligence.


Animoca co-founder and director Yat Siu said: “It is a singular honour that Sun Hung Kai, one of Asia’s most renowned financial powerhouses, chose Animoca Brands as its partner and strategic investee.

“Sun Hung Kai’s know-how and established network have the potential to significantly accelerate business opportunities for Animoca Brands.”

READ: Animoca Brands signs licensing deal to distribute Crazy Kings game in China

Siu added: “The existing collaboration between Lympo and our health and fitness subsidiary OliveX is progressing well.

“Today we are extremely pleased to see this relationship further solidified by Lympo’s strategic investment in Animoca Brands.

“As a leader in blockchain for sports and health, Lympo provides us with highly focused growth opportunities.”

READ: Animoca Brands appoints Kabam co-founder to board

Blockchain is a technology for open and distributed ledgers that record transactions safely and permanently, and which is undergoing significant development and adoption.

The global blockchain technology market totalled $0.9 billion in 2017 and is estimated to reach $14.6 billion by 2023.

View full AB1 profile View Profile

Animoca Brands Corporation Ltd Timeline

Related Articles

Bitcoin coins in a wallet
December 22 2018
The payment processing company’s platform has continued to sign up merchants, unbothered by the notorious market volatility
electric vehicle charging
January 04 2019
AMP wants to add 25 sites in Greater London and extend its reach into the North-West around Liverpool and Manchester
An energy plant
August 13 2018
The exclusive contract will run its course for two years and includes a one -year extension option

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use